Liftoff Mobile pulled its up to US$762m Nasdaq IPO on Thursday evening in the wake of the week's selloff of software stocks due to investor concerns about the threat to the sector from AI.

Amid an unprecedented AI-focused borrowing binge, Oracle became the first of the hyperscalers to blink on the public equity side, raising US$5bn from the sale of a mandatory convertible preferred, while filing to sell another US$20bn of stock on the open market through an at-the-market programme.

Asia's equity-linked issuance has got off to a rapid start this year, with 15 deals raising US$9.9bn on strong investor appetite for the product.

Forgent Power Solutions raised US$1.5bn on Wednesday from a NYSE IPO that was heavily oversubscribed, though the lead banks were reluctant to push too hard on pricing.